APPALACHIAN FINISHINGS
PPP Loan approved Apr 11, 2020 through City National Bank of West Virginia
Borrower Information
Business Details
Lender Information
Self-Reported Demographics
How Proceeds Were Used
| Category | Amount | % of Total Proceeds |
|---|---|---|
| Payroll | $113,916.00 | 80.0% |
| Utilities | $25,631.10 | 18.0% |
| Mortgage Interest | $2,847.90 | 2.0% |
About This Loan
APPALACHIAN FINISHINGS received a PPP loan of $142,395 approved on Apr 11, 2020. The loan was originated by City National Bank of West Virginia.
APPALACHIAN FINISHINGS is a sole proprietorship located in WHITE SULPHUR SPRINGS, West Virginia. At the time of the application, the business was described as "existing or more than 2 years old".
The business operates in the Other Specialty Trade Contractors industry (NAICS 238990), part of the Construction sector of the economy. The applicant reported 12 jobs as retained through this loan.
The SBA forgave $143,182.13 of this loan — 100.6% of the total approved amount, with forgiveness recorded on Nov 3, 2020. This means the borrower was not required to repay this portion, having satisfied the PPP's eligibility criteria for forgiveness, including maintaining payroll levels and using the funds for qualified expenses.
According to the SBA's records, the proceeds of this loan were allocated as follows: $113,916 to payroll, $25,631 to utilities, $2,848 to mortgage interest. The payroll component represents 80.0% of disclosed proceeds, consistent with the program's requirement that at least 60% of loan funds be used for payroll costs to qualify for full forgiveness.
This loan is one of millions approved nationwide during the COVID-19 pandemic. To explore other recipients in West Virginia, visit the West Virginia page. To compare this loan with others in the same industry, see the Other Specialty Trade Contractors industry page.